FREEHOLD FOR WHOLE BUILDING | GROUND FLOOR
COMMERICAL UNIT | BASEMENT RESIDENTIAL APARTMENT WITH LARGE GARDEN | DOES NOT
INCLUDE THE LEASEHOLD OF UPPER TWO FLATS | POTENTIAL TO REFURBISH AND REMODEL
(STPP) | PRIME HACKNEY LOCATION | CURRENT YIELD OF OVER 6.5% …
GUIDE PRICE £850,000 - £870,000...
For sale is ground floor commercial unit, lower ground floor residential apartment and the freehold for the building. This sale does not include the leasehold ownership for the upper two floors.
The commercial on the ground floor has an A3 license. It is currently let until 2031 for £20,000 per annum.
The lower ground floor flat currently lets for £33,600 per annum
The lower ground floor flat with some investment would have a rental valuation of £3,500 per month.
The freehold brings in £900 per annum in ground rents for the two upper flats.
The leases have 100 years and 105 years remaining.
The yield for the whole unit is currently 6.5% with potential to increase this to close to 8%.
Hackney Downs is the nearest station at just 0.2miles walk away with excellent transport links throughout London. It is 12 minutes on the Overground to Liverpool Street, a short drive to Westfield Stratford and Olympic Park and only a 30 minute journey to King Cross.
Dalston
Junction / Kingsland are both 0.5miles walk away.
All the above make this a perfect property and
location for an array of buyers including investors looking to add to their
portfolio, someone looking to change class from commercial to residential
(STPP) or a business owner looking for a new site for a venture.
GUIDE PRICE £850,000 - £870,000 ...
Tenure : Freehold
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A holding deposit of one weeks rent will be required to commit to the property you wish to rent. The one week deposit forms as your part of your first months advance
The tenant(s) will normally pay one month rent in advance (unless otherwise agreed by the landlord) which will cover the first month’s rent.
The tenant(s) will pay five weeks security deposit at the commencement of the tenancy and it is the landlord liability to ensure they register/protect the deposit with an approved government scheme.
You will pay interest on any payment of Rent not made, in the event of the tenant failing to pay the rent on the date it is due, the Tenant shall pay interest at the rate of 3% per annum above the Bank of England base rate on any rent remaining unpaid for more than 14 days after the day on which it became due.
The vacating tenant who wishes to replace themselves will be liable for a tenancy change charge of £50.00 or for any additional changes required during the term.
You will need to pay for the cost if a key needs to be replaced due to your error. Also pay for the cost of other security devices from £50.00+ and you will also be charged a call out charge of £85.00+ if you are locked out and need assistance either by the agent or contractor. In the event locks need to be changed you will be charged an hourly rate charged by the contractor/company used and an invoice will be provided.
Which may apply will be charged to the tenants for all damages caused by tenant’s negligence whether misuse or accidental. Out of hour’s services from: £150+ for the first hour, then £85+ per hour after that plus any additional costs incurred.
Call out charge: £85+ for the first hour, where actions/misuse of the tenant results in the agent (or nominated contractor) having to attend the property. Any time beyond the first hour to remedy the situation is charged at the hourly rate of £65+ or the hourly rate charged by the nominated company.
If tenant(s) wish to terminate the contract during the fixed term all tenants will remain liable to pay rent until the term expires. In addition you will be liable to pay an early surrender charge of £600+
Rent and costs of all utilities, including, TV licence/broadband, council tax, water, Gas/Electric.
bigmove is a member of the PRS (Property Redress Scheme), demonstrating our commitment to upholding industry standards and ensuring fair resolution processes for property-related disputes. We are also members of CMP (Client Money Protect) to ensure our commitment to safeguarding client’s funds so they are aware their money is protected. In addition we are members of the DPS, deposit Protection Scheme – (ensuring your deposit is protected)
